Keystone XL Pipeline: State Department Expected To Announce Pursuit Of New Route
WASHINGTON (Reuters/November 10) - The Obama administration plans to announce on Thursday it will explore a new route for a Canada-to-Texas oil pipeline, delaying a final approval beyond the 2012 U.S. election, sources briefed on the matter said.
The decision would be a victory for environmentalists, many of whom oppose the pipeline, and a setback for TransCanada Corp, whose $7 billion Keystone XL project is seen as the most important North American oil pipeline plan for decades.
One source familiar with the matter said that studying a new route for the pipeline would likely take 12-18 months, putting a final decision after President Barack Obama's bid for re-election on November 6, 2012.
If the administration explores a new route, "it's a huge victory, and it would probably be the biggest environmental gift that President Barack Obama has given us," said Tony Iallonardo, a spokesman at the National Wildlife Federation.
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http://www.huffingtonpost.com/2011/11/10/keystone-xl-pipeline-state-department_n_1086319.html